Tim: guidance upwards, 2 billion of funds as guarantee Sace – CorCom

Tim’s board of directors approved the financial report as of June 30, 2022. The half-year report shows that group-wide service revenues remain stable at 7 billion euros in the half-year, with organic Ebitda equal to three billion and an improving trend in the second quarter, which allows the group to raise its guidance on Ebitda 2022. Thus the group’s organic Ebitda goes from “low teens decrease” to “high single digit decrease”, and the Group’s Ebitda after leases which passes from “mid to high teens decrease” to “low teens decrease”. In the first half of the year, the company also collected two billion euros of the loan guaranteed by Sace.

Tim Enterprise, business unit led by Elio Schiavo, reported revenue from services up about 9% YoY, thanks to business growth cloud, which registered a + 62% year on year. For Tim Enterprise “we have big ambitions with revenues from 3 billion to 5 billion in 2030 with a change in the mix, the cloud will be the largest service with a 50% contribution to revenues”, said the CEO of Tim Pietro Labriola its strategic plan on Capital Market Day.

In the second quarter, “the stabilization and relaunch of the domestic business continued and the acceleration of the development of Tim Brasil following the purchase of Oi’s mobile assets”, reads a note, while in Italy during the cost containment continued, continues the press release, which led to an overall reduction in the half year of approximately 200 million euros, approximately 70% of the target set for 2022, with the confirmation of the “Value vs. Volume “in both fixed and mobile in Italy – reads the press release – and a churn improving in both markets.

“In addition – reads the note – additional areas of efficiency have been identified also linked to the rationalization of Capex and leasing, with the consequent increase to 1.5 billion euros from 960 million euros by 2024 of the cumulative cash reduction target cost compared to an inertial trend “. All elements which, together with the boost from Brazil, led to an upward revision of the targets.

Revenues for the second quarter amounted to 3.9 billion euro for the group (-1.4%), an improvement compared to the previous quarter (-4.5%). Those in the first half of 2022 amounted to 7,557 million (+ 0.2%). Those from services amounted to 3.6 billion euros (+ 1%). Organic Ebitda in the second quarter amounted to 1.6 billion euros (-8.5%). The quarter ended in red for 279 million and six months with a loss of 483 million euros.

The report shows a strong acceleration of Tim Brasil compared to revenues from services, with + 15.2% compared to the same period of the previous year, and EBITDA at + 11.8%.

After Lease Net Financial Debt is € 19.3 billion after the payment of Oi’s mobile assets and part of the spectrum in Brazil.

@ALL RIGHTS RESERVED

We would love to say thanks to the writer of this short article for this amazing material

Tim: guidance upwards, 2 billion of funds as guarantee Sace – CorCom


Visit our social media profiles as well as other related pageshttps://prress.com/related-pages/